I. Introduction Any company that decides to expand internationally should consider many complexities that it might face. Because of the differences in political system, culture, surrounding environment, and many other factors, there might be great barriers for a firm to expand internationally. The CEO of Talisman Energy Inc and senior executive team have to convince the board of directors to enter Kurdistan region of Iraq. After Talisman's scandal in Sudan, taking any other step into an unstable region carries a great risk.

II. The Problems 1. Talisman Energy Inc. started as a small independent oil company which needed to grow and expand internationally since that North America offered only limited growth potentials. 2. Talisman Energy Inc. has suffered a great loss not only financially but also the company's reputation was affected after NGOs accused Talisman of fueling the civil war in Sudan. Some of the major investors threatened to sell their shares if Talisman didn't leave Sudan. 3. The price of oil reached 130$ per barrel, while the world demanded for oil, oil companies had to enter sensitive environments and countries to search for oil. Talisman decided to enter Kurdistan of Iraq as it is an oil rich region. 4. Kurdistan has been trying to separate from the rest of Iraq for many years, but they couldn't do so because they were fought by Saddam Hussain and his troops. Now, they won't miss any opportunity to have their independence. 5. Iraq is still an unstable country with all what it went through during the war with Iran and the US invasion. III. The Suggested Solutions

Since that Talisman is looking for an oil-rich regions, and found that Kurdistan is a good place to invest they should take some steps to avoid any future conflicts and minimize the risks. These steps are as follows: Talisman should be very transparent about where their money is going. They...

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...Case Analysis: Talisman Energy Inc: The Decision to Enter IraqTalisman Energy Inc. after a failed oil venture in Sudan due to poor handling of public relations is contemplating entering Kurdistan after the Iraq War. The Sudanese fiasco was due to a portrayal of Talisman as a conspirator with the Sudanese government in perpetuating regional conflict and funding human rights abuses. The subsequent media firestorm and activist pressure spooked high-stakes investors who forced Talisman to withdraw. An equally dangerous and fluid political clime exists in the war-torn Kurdistan, with a regional government struggling with legitimacy and seeking foreign investment. Though the potential for profit is high and resources are plentiful, the field is largely devoid of other firms who could prevent Talisman being singled out again, and logistical and ethical problems abound. Talisman is advised not to enter such a risky market again, especially with their recent failure so fresh in the worlds (and their investors) memory.
Talisman, though performing their due diligence and making visible corporate efforts to the contrary was painted by the media as indirectly funding human rights abuses through their operations in Sudan. They were unable to mitigate the damage and had to leave the region and profits behind. Before choosing to enter...

...Executive summary:
Before entering Iraq, Talisman must do their due diligence in order to maximize profits and minimize risks. Due diligence would require a thorough review of both surface and subsurface risks to successfully extracting oil from Iraq and bringing it to market. It is important that they clearly indicate what needs to be done. Given Talisman’s background in Sudan: 1) Being accused of indirectly giving weapons to the Sudanese government by the NGOs which created lots of media attention and bad press. 2) Talisman used their influence and adopted steps to stop human rights abuse in Sudan, leading them to become the largest independent oil and gas firm on the basis of revenue. 3) NGOs and Sudanese people formed a lawsuit against Talisman insisting they were assisting the violation of human rights in Sudan, which then lead to Talisman having to sell their share of the Sudan case. Given the current activity in Iraq: 1) Surface risks: - substantial risk that the government may decide to expropriate the land and nationalize oil production, - ongoing concerns having to deal with corrupt military, police and government representatives, - infrastructure concerns and communication abilities and - potential outside influences from NGOs will also have to be addressed. 2) Subsurface risks: -proof of oil but hasn’t been found by the other Canadian oil...

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...Executive Summary
Talisman Energy Inc. (Talisman) is an independent Canadian oil and gas producer. Talisman is a company that has been through a great deal of criticism due to their negative experience in Sudan in previous years. They were accused of numerous things such as fueling the civil war, believing the Sudanese Government was using oil revenues to purchase weaponry, and of being complicit in human rights abuses because of fees and royalties paid to the government for the rights to explore oil and gas. Now, Talisman is faced with the decision of whether or not they should enter into Kurdistan, knowing that the same thing can happen there as it did in Sudan. The KRG is asking for $220 million in exchange for allowing Talisman to search for oil reserves. Not knowing what the KRG will use the money for, whether it’s to improve economic development or to purchase weaponry creates a dilemma for Talisman. The board of directors had first-hand experience of the damage to Talisman’s reputation. With proper due diligence and continuous re-evaluation of the situation in Kurdistan, Talisman should now find it easier to discover political risk and solve problems before they arise.
Problem Statement
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